Library Foundation of Lampasas Texas

Nonprofit profile at a glance

EIN
743001615
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lampasas, TX, USA
Phone
5125563251
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$42,550
Expenses
$30,811
Assets
$203,043
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JENNIFER WALKER (PRESIDENT)
  • SARAH WATSON (V PRESIDENT)

People named in this filing

  • SUSAN BROWDER (TREASURER)
  • LUCY WALKER (DIRECTOR)
  • KRISTY MAY (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The exempt purpose of the corporation is the advancement of education in lampasas county by raising funds to be used by the lampasas public library.

What it reported doing in 2024

The corporation raises money through contributions and membership fees to purchase books and other items for the lampasas public library. The corporation is also involved in raising funds for the library building expansion including a reading park

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 80
  • Accountability: 64
  • Sustainability: 68
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.4%; rating input score 35
  • Program expense ratio: 39.6%; rating input score 40
  • Fundraising efficiency: $4.51 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.6%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 6.59; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -35.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 54th percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 35.4% of revenue deployed · 39.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.